-- Posted Tuesday, 3 August 2010 | Digg This Article
| | Source: GoldSeek.com
| Close | Gain/Loss |
Gold | $1185.25 | +$3.25 |
Silver | $18.41 | +$0.06 |
XAU | 170.25 | +0.04% |
HUI | 443.46 | +0.76% |
GDM | 1334.92 | +0.78% |
JSE Gold | 2403.42 | +73.73 |
USD | 80.59 | -0.32 |
Euro | 132.32 | +0.50 |
Yen | 116.49 | +0.88 |
Oil | $82.55 | +$1.21 |
10-Year | 2.914% | -0.049 |
T-Bond | 128.40625 | +0.78125 |
Dow | 10636.38 | -0.36% |
Nasdaq | 2283.52 | -0.52% |
S&P | 1120.46 | -0.48% |
The Metals:
Gold fell slightly to as low as $1179.30 in Asia, but it then rose throughout most of trade in London and New York and ended near its late morning high of $1190.40 with a gain of 0.27%. Silver fell to $18.26 in Asia and rose to as high as $18.583 in New York before it fell back off in the last couple of hours of trade, but it still ended with a gain of 0.33%.
Euro gold fell to about €896, platinum lost $18.30 to $1576.70, and copper fell a few cents to about $3.36.
Gold and silver equities traded mostly slightly higher and ended with modest gains.
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | June | 0.0% | 0.1% | 0.3% |
Personal Spending | June | 0.0% | 0.0% | 0.1% |
PCE Prices - Core | June | 0.0% | 0.1% | 0.1% |
Factory Orders | June | -1.2% | -0.5% | -1.8% |
Pending Home Sales | June | -2.6% | -5.0% | -29.9% |
Tomorrow at 8:15AM EST brings ADP Employment for July expected at 25,000 and at 10AM is the ISM Services report for July expected at 53.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose to a new 3-month high as the U.S. dollar index fell on worries over worse than expected economic data today.
Treasuries rose as the Dow, Nasdaq, and S&P traded mostly modestly lower on poor earnings reports and renewed concerns over a weak economy.
Among the big names making news in the market today were Ford, GM, Ally Financial, MasterCard, Evercore, Archer Daniels, NYSE Euronext, Dow Chemical, Pfizer, P&G, and Coach.
GATA Posts:
Eric King: Pac Man time in the gold mining industry
New policy seen increasing China's gold demand, supporting prices
China will help its gold producers expand overseas
UBS sees gold investors diversifying into reality
Fed will go to war on deflation next week, leading economist predicts
Alasdair Macleod: BIS swaps may be last gamble to suppress gold price
Fed's inflation experiment may treat Americans as lab rats, Rickards tells King
The Statistics:
Activity from: 8/02/2010
Gold Warehouse Stocks: | 11,112,103 | -64,016 |
Silver Warehouse Stocks: | 110,243,698 | -117,566 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1282.279 | 41,226,552 | US$48,935m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 121.63 | 3,910,478 | US$4,643m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,747 | US$543m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.13 | 1,579,568 | US$1,847m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,972 | US$6m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 90.88 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9185.29 - No change from yesterday’s data
The Miners:
SEMAFO’s (SMF.TO) drill results, ITH’s (THM) Preliminary Economic Assessment results, Pacific Rim’s (PMU) tribunal ruling, Fronteer’s (FRG) drill results, Impact’s (IPT.V) commenced drilling, Silvercorp’s (SVM) submitted mining permit, Fresnillo’s (FRES.L) first-half profit, Excellon’s (EXN.TO) drill results, and ECU Silver’s (ECU.TO) second quarter production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Nevsun | NSU +8.22% $3.82 |
2. Claude | CGR +7.91% $1.06 |
3. Harmony | HMY+4.70% $10.46 |
LOSERS
1. Kinross | KGC -5.45% $15.45 |
2. Alexco | AXU -5.02% $3.03 |
3. DRDGOLD | DROOY-4.53% $4.00 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
All of today's gold and silver stock news:
ATW Gold Corp.: Corporate Update - More
- August 03, 2010 | Item | ShareThis
SLAM drills 107 g/t gold at Reserve Creek - More
- August 03, 2010 | Item | ShareThis
RX Exploration Inc. to Trade on TSX Venture Exchange - More
- August 03, 2010 | Item | ShareThis
Network adjusts Yukon property commitment - More
- August 03, 2010 | Item | ShareThis
Pancon/Crossland JV Acquires More Property to Expand Its Northern Territory, Australia Uranium Focus - More
- August 03, 2010 | Item | ShareThis
Grassroots Issues Research Report on Amarok - More
- August 03, 2010 | Item | ShareThis
Impact Silver Commences Drilling On The Chontalpan Project Area, Mexico - "IMPACT Silver Corp. (“IMPACT”) is pleased to announce that drilling has begun on the Chontalpan Project Area of the Royal Mines of Zacualpan Silver District in Mexico, five kilometers southeast of IMPACT’S Guadalupe processing plant. This drilling is part of a recently announced 5,000 meter Golondrinas-Chontalapan-Cuchara Sector (GCC) drill program (see IMPACT news release dated July 27 2010). Historically, the silver-rich Chontalpan Vein has accounted for a significant portion of the Zacualpan District’s past production dating back to the 1760’s. According to historians, production from the Chontalpan mine is estimated to be responsible for a considerable amount of the wealth accumulated by Jose de la Borda, who at the time was one of the richest mine owners in Mexico." More
- August 03, 2010 | Item | ShareThis
Upper Canada Gold Corporation Announces Assay Results From the Dingman Property 2010 Drilling - More
- August 03, 2010 | Item | ShareThis
Silvercorp Submits Mining Permit Application for the GC Project, Guangdong Province, China - "Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM - News)(NYSE:SVM - News) is pleased to report that it has submitted a mining permit application for the GC Silver-Lead-Zinc Project to the Ministry of Land and Resources (MOLAR) of China. MOLAR has accepted the application along with all supporting documents. The Company expects to receive the mining permit within 45 business days." More
- August 03, 2010 | Item | ShareThis
First Metals Inc. Announces Voluntary De-Listing and Provides Operational Update - More
- August 03, 2010 | Item | ShareThis
Plexmar Resources Inc./Malin Plant Services Contract: First Milestone Reached - More
- August 03, 2010 | Item | ShareThis
Drilling Commences on First Point's Decar Nickel-Iron Alloy Property - More
- August 03, 2010 | Item | ShareThis
Megastar Begins Next Phase of Exploration on Its Wholly Owned Ralleau Copper-Zinc Project in Quebec - More
- August 03, 2010 | Item | ShareThis
Lake Shore Gold Intersects Shallow, High-Grade Gold Mineralization at Vogel With Open-Pit Resource Potential - More
- August 03, 2010 | Item | ShareThis
Abcourt Grants Stock Options to Directors and Modifies the Exercise Price of Previous Stock Options - More
- August 03, 2010 | Item | ShareThis
Tarsis Resources Ltd.: Grassroots Copper, Gold and Silver Discovery at White River, Yukon - More
- August 03, 2010 | Item | ShareThis
Fancamp Appoints Advisory Board Members - More
- August 03, 2010 | Item | ShareThis
Duncastle Completes Engineering Summary Report at Yankee-Dundee - More
- August 03, 2010 | Item | ShareThis
Caribou Copper Resources Ltd. Completes Trenching Program Over Minimally Explored Eastern Lodes - More
- August 03, 2010 | Item | ShareThis
ATAC Resources Updates East Zone Drilling at Its Rau Gold Project-Yukon - More
- August 03, 2010 | Item | ShareThis
La Mancha Resources Inc.: First Stages of Frog's Leg Drilling Extension Program Return Very High Grade Intercepts - More
- August 03, 2010 | Item | ShareThis
UC Resources Ltd. Receives Loan Facility From FIFOMI - More
- August 03, 2010 | Item | ShareThis
Vaaldiam Sells Titanium Asset for Cash & Royalty - More
- August 03, 2010 | Item | ShareThis
Nemaska Reports Drill Results From Nisk 1 Nickel-Copper Deposit and Provides Exploration Update - More
- August 03, 2010 | Item | ShareThis
Khan Wins Second Mongolian Court Case - More
- August 03, 2010 | Item | ShareThis
Sparton Finalizes Initial Acquisition Phase of Guojiaping Vanadium-Uranium Project In Southeastern China - More
- August 03, 2010 | Item | ShareThis
First Vertical Step-Out at Fission's Summer Drill Program Intersects 4.5m of "Off-Scale" Radioactivity and Extends "J-Zone" to the North - More
- August 03, 2010 | Item | ShareThis
Silver Predator Amends Property Agreements - More
- August 03, 2010 | Item | ShareThis
Cartier Cuts up to 7.7 Grams Gold, 1,162.0 Grams Silver, 4.96% Copper and 3.52% Zinc on Cadillac Extension - More
- August 03, 2010 | Item | ShareThis
Trevali Receives Conditional Toronto Stock Exchange Listing Approval - More
- August 03, 2010 | Item | ShareThis
Peregrine Drills 178 Metres of 0.57% Cu Including 78 Metres of 0.69% Cu, and 60 Metres of 0.79% Cu at Altar - More
- August 03, 2010 | Item | ShareThis
Kootenay Gold Inc. - Drilling commences on Jumping Josephine Gold Project - More
- August 03, 2010 | Item | ShareThis
Geologix Explorations Inc.: Tepal Metallurgical Test Work Delivers Positive Results - More
- August 03, 2010 | Item | ShareThis
Focus Metals Options From SOQUEM the Kwyjibo Fe-Cu-REE-Au Property - More
- August 03, 2010 | Item | ShareThis
Wolverine Exploration Announces Commencement of Drilling at Cache River - More
- August 03, 2010 | Item | ShareThis
Fire River Gold Announces 20 g/t (0.58 opt) Gold Over 2.5 m (8.2 ft) at the Nixon Fork Gold Mine, Alaska - More
- August 03, 2010 | Item | ShareThis
New Global Samples Return 373 g/t Gold - More
- August 03, 2010 | Item | ShareThis
Canadian Shield Completes NI 43-101 Technical Report and Resource Estimate for Colpayoc Gold Project, Peru - More
- August 03, 2010 | Item | ShareThis
Astral Commences Drilling on Jumping Josephine Gold Project and Discovers new Soil Geochemical Anomaly - More
- August 03, 2010 | Item | ShareThis
Uranerz Acquires Extensive Drill Data for Powder River Basin Area - More
- August 03, 2010 | Item | ShareThis
Extorre Reports New High Grade Gold Zone At Cerro Moro - More
- August 03, 2010 | Item | ShareThis
Macusani Yellowcake Announces 158% Increase in Indicated Resources at Colibri 2 and 3 Property - More
- August 03, 2010 | Item | ShareThis
Plexmar Resources Inc.: Completion of a $664,000 Private Placement - More
- August 03, 2010 | Item | ShareThis
Detour Gold Reports Results From Its 2010 Drilling Program at Detour Lake Project in Ontario - More
- August 03, 2010 | Item | ShareThis
East Asia Minerals Intercepts Favourable Alteration and Mineralization at Lower Tengkereng Gold-Copper Porphyry Project; Ends in Mineralization - More
- August 03, 2010 | Item | ShareThis
Red Back Reports Strong Operating Results - More
- August 03, 2010 | Item | ShareThis
Lithium Corporation Appoints New Board Member - More
- August 03, 2010 | Item | ShareThis
Metallurgical Testing for Prefeasibility Study Indicates Uranium Recoveries of over 90% at Kuriskova - More
- August 03, 2010 | Item | ShareThis
Western Pacific Samples 6.1m at 3.7 g/t at Mineral Gulch - More
- August 03, 2010 | Item | ShareThis
New Sample Results Expand Area of Interest at Mercer Gold's Guayabales Gold Project, Colombia - More
- August 03, 2010 | Item | ShareThis
Silver Dragon Completes Erbahuo Mining License Transfer to Chifeng Silver Dragon, China - More
- August 03, 2010 | Item | ShareThis
Intrepid Mines Limited: Sale of Paulsens Gold Mine Completes - More
- August 03, 2010 | Item | ShareThis
Vena Intersects 54 Metres of 1.438 lb/mt U3O8 Including a High Grade Interval of 9.7 Metres Grading 5.913 lb/mt U3O8 at Macusani, Peru - More
- August 03, 2010 | Item | ShareThis
Pelangio Exploration Enters Letter of Intent to Acquire Option on 100 Km2 Land Package in Ghana - More
- August 03, 2010 | Item | ShareThis
Taku Gold Corp. Commences Social Media Program - More
- August 03, 2010 | Item | ShareThis
Lydian Intersects 74m at 1.4 g/t, 112m at 1.0 g/t and 62m at 1.3 g/t Gold in Resource Upgrade and Extension Drilling At Its Amulsar Gold Discovery; Armenia - More
- August 03, 2010 | Item | ShareThis
Avion Extends Vindaloo Zone to Depth and Along Strike at Hounde, Burkina Faso - More
- August 03, 2010 | Item | ShareThis
Bellhaven Receives Review by Dr. Jeffrey Hedenquist of the Pitaloza and Cerro Viejo High-Sulphidation Epithermal Gold Projects, Panama - More
- August 03, 2010 | Item | ShareThis
Eurasian Minerals Announces the Promotion of Dr. Eric Jensen, a Property Acquisition, and Provides a Corporate Update - More
- August 03, 2010 | Item | ShareThis
Canaco Drills 32m at 9.27 Grams Per Tonne Gold at Magambazi Central, Extends the Magambazi Main Lode 120m North With Step-Out Drilling - More
- August 03, 2010 | Item | ShareThis
Fresnillo H1 profit jumps on higher output, prices - "Mexican precious metals miner Fresnillo (FRES.L), the world's largest primary silver producer, said its first-half profit jumped, beating expectations, on higher gold and silver production and prices of the metals.
Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 93 percent to $392.0 million as revenue grew 60 percent." More
- August 03, 2010 | Item | ShareThis
Silver Sun Begins Metallurgical Test Program - More
- August 03, 2010 | Item | ShareThis
Ormonde Mining plc ("Ormonde" or "the Company"): Independent Report Highlights Excellent Gold Potential on Salamanca Properties - More
- August 03, 2010 | Item | ShareThis
Gold Takeovers Set Record to Boost Fees at BMO, HSBC, Merrill - "Global gold mining takeovers set a record this year with “chest-beating” miners chasing deals as the price of the metal surged, boosting fees at advisory banks BMO Capital Markets, HSBC Bank Plc and Merrill Lynch." More
- August 03, 2010 | Item | ShareThis
SEMAFO's New Fofina Zone Returns 4.44 g/t Au Over 23 Meters at Mana - "SEMAFO (TSX:SMF - News) today announced follow-up drilling results on the Fofina Zone, demonstrating good continuity of the zone with values of up to 4.44 g/t Au (5.57 g/t Au uncut) over 23 meters at Mana in Burkina Faso. In addition, reverse circulation ("RC") and air core ("AC") drilling conducted on Fobiri auger geochem anomalies returned significant drill intersections including 9.76 g/t Au over 3 meters, 5.44 g/t Au over 6 meters and 2.24 g/t Au over 21 meters. Ongoing excellent results on the property have prompted SEMAFO to allocate an additional $9,000,000 to Mana's exploration budget." More
- August 03, 2010 | Item | ShareThis
International Tower Hill Mines Ltd. Reports Positive Preliminary Economic Assessment Results-Combined Milling and Heap Leach Processing, Livengood Gold Project - "The combined milling/heap leach PEA is based the Company's June, 2010 resource estimate and produced a positive economic analysis for the conceptual project. Significantly the PEA demonstrated a life of project average annual production of 504,000 recovered ounces of gold for 21 years, at a 1:1.07 strip ratio (ore to waste), indicating a pre-tax NPV(5%) of USD 813M, and an IRR of 15.4% using a USD 950 per ounce gold price (Table 1). The study also shows the deposit has a considerable leverage to gold price, with a pre-tax NPV(5%) of USD 2.3B and an IRR of 32.5% at a USD 1,200 per ounce gold price (Table 2)." More
- August 03, 2010 | Item | ShareThis
Excellon Significantly Extends 6A/6B Manto at Platosa 794 g/t (23 oz/T) Ag, 13.42% Pb, 14.93% Zn Over 6.67 m in Hole EX10-LP814 - "Excellon Resources Inc. (TSX:EXN - News) is pleased to announce that Hole LP814, drilled 125 metres past the end of the 6A/6B Manto, has cut 6.67 metres (m) of very high-grade massive sulphides that report 794 g/t (23 oz/T) Ag, 13.42% Pb, 14.93% Zn within a wider interval grading 711 g/t (21 oz/T) Ag, 10.93% Pb, 11.70% Zn over 8.42 m. Hole LP814 is the latest of a series of holes designed to trace the continuation of this manto. These holes have intersected between 0.36 and 8.42 m of high-grade massive and semi-massive sulphides and assays for a total of nine holes are reported here. This mineralization remains open to the northwest and is readily accessible from the existing mine infrastructure." More
- August 03, 2010 | Item | ShareThis
Timberline Commences Drill Program at South Eureka Project in Nevada - "Timberline Resources Corporation (NYSE Amex:TLR) (TSX-V:TBR - News) ("Timberline") is pleased to announce that it has mobilized a surface drill and has begun the diamond drilling segment of its exploration program at its recently-acquired South Eureka property in Nevada's Battle Mountain-Eureka gold trend. Timberline also expects to begin a complementary RC drill program there within the next several weeks." More
- August 03, 2010 | Item | ShareThis
Pacific Rim Mining Corp.: ICSID Tribunal Rejects Government of El Salvador's Preliminary Objection - "The tribunal at the International Centre for Settlement of Investment Disputes ("ICSID") that is hearing the investment claims of Pac Rim Cayman LLC ("PacRim") against the Government of El Salvador ("GOES") has unanimously rejected the Preliminary Objection filed by GOES. PacRim has brought claims against GOES under the Dominican Republic-United States-Central America Free Trade Agreement ("CAFTA") and the Investment Law of El Salvador. In January 2010, GOES filed numerous arguments in support of a Preliminary Objection that sought to dispose of nearly all of PacRim's case." More
- August 03, 2010 | Item | ShareThis
Fronteer Gold Inc.: Second High-Grade Zone at Northumberland Returns 7.10 g/t Gold Over 37.4 Metres - "Fronteer Gold (TSX:FRG - News)(AMEX:FRG - News) announces today that drilling has returned some of the highest grade gold intervals ever intersected at its 100% owned Northumberland project in Nevada." More
- August 03, 2010 | Item | ShareThis
ECU Silver Reports Record Gold and Silver Production in Second Quarter - "In the second quarter of 2010 (Q2 2010) the operations generated silver totaling 106,887 ounces (Ag oz) and gold totaling 3,064 ounces (Au oz), which is a quarterly record. In addition, the mines generated 58,273 pounds of lead and 36,533 pounds of zinc. Expressed in terms of silver equivalent ounces (AgEq oz), and based on current commodity prices (see Table 1 below), total metal output was 314,754 AgEq oz." More
- August 03, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted Tuesday, 3 August 2010 | Digg This Article | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Higher
